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Abstract:WikiFX| Daily F.X. Analysis, Sept 14 |Arslan Ali Butt-KOL
[About The Author]
Arslan Ali Butt has been working in Forex market since 2013.
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Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.
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Recently, the sterling suffered a sharp loss in the wake of the fact that the UK-EU trade talks are teetering on the brink of collapse. It comes because the UK is preparing to legislate to deal freely with Northern Ireland's freight under the expectation that a trade deal with the EU is beyond reach. Once it succeeds, products from Northern Ireland will have unfettered access to the UK's market without any customs declarations as the UK has the power to decide which goods are subject to EU tariffs, but the EU's subsidies involving Northern Irish firms may not be active.
There is a good strong buy setup portending for this pair as market participants seem bullish on a slow motion soaring euro and somehow ease back measures and slow recovery of some of the Euro block members.
WikiFX| Daily F.X. Analysis, Sept 15 |Arslan Ali Butt-KOL
XAU/USD is traded higher at $1,966 level versus $1,962 yesterday’s high and it seems poised to approach the $2,000 psychological level soon if the USD depreciates further against its rivals.